COVID-nomics: The Economic Impact of COVID-19

Abstract

As we know, there are few things in this world that do not have two-faced implication, COVID-19 has
also had both positive and negative economic impacts. As the monetary outcomes following from the
COVID-19 emergency unfurl, it is normal that more seasoned economic assets will be affected, as
they have been during past fiscal plunges. These variables will hit more diligently in significant
expense zones of the nations where monetary security is as of now shaky for some individuals.
Lockdown or shutdown have sensibly affected the GDP of every country in the considerable financial
viewpoints. In this paper, we analyse and try to answer two main questions – (i) How has the
economic imbalance due to coronavirus disease affected humankind’s mental health; and (ii) the
social and economic impacts on global economy due to sudden lockdowns imposed and prohibition of
public gatherings.